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In this capacity he was no doubt the means of introducing a large amount of profitable business. Unfortunately for the company, the manager of the branch establishment at Dudley made enormous advances to an ironmaster in that locality. The amount at length became so large that the directorate became alarmed, and deputed their chairman, Mr.
He is compromised by the fall of the Nabob which entails the loss of his directorate and is risking his all on the piece of this evening, obliged, if it be not a success, to leave the cost of this marvellous scenery, these stuffs at a hundred francs the yard, unpaid. It is a fourth bankruptcy that stares him in the face. But, bah! our manager is confident.
It is otherwise with a dynastic State, to the directorate of which all other interests are necessarily secondary, subsidiary, and mainly to be considered only in so far as they are contributory to the nation's readiness for warlike enterprise.
When Law, the famous Scotch financier, at the beginning of the eighteenth century, formed in France his trading companies a stock corporation which was formed for the exploitation of the Mississippi region, the East Indies, etc., the Regent of France himself was on its directorate a member of a merchant company!
Wharton discovered, partly to his own amazement, for he was a man who quickly forgot, that during his directorate he had devised or sanctioned matters that were not at all likely to commend themselves to the shareholders, supposing the past were really sifted.
It is known that the directorate of that bank interlaces in personnel with ten, twenty, thirty, forty, fifty, sixty boards of directors of all sorts, of railroads which handle commodities, of great groups of manufacturers which manufacture commodities, and of great merchants who distribute commodities; and the result is that every great bank is under suspicion with regard to the motive of its investments.
During the years of war we landed ten and a half millions of persons in France, and last year the weekly tonnage arriving at French ports exceeded 175,000 tons. Meanwhile four thousand five hundred miles of road were made or kept up by the Directorate of Roads.
Some day he will make another raid and, if he is allowed to select the day and the conditions, it will be a panic-making raid. If an enemy's attack is inevitable the best defense is offense. There is no wisdom in giving him time to prepare. Every day we stand idle his power grows. We must show enough strength at the next meeting of our stock-holders to reorganize the Coal and Ore directorate."
Bolderoff and the Directorate boggled at this for a time, but as the Bolsheviks began to get close to Ufa, and also concentrated an army of about one hundred thousand men for an offensive towards Ekaterinburg, the situation became so pressing that the Directorate gave way, and a few days before the coup d'état Bolderoff had sent word to the Japanese that their terms were accepted.
If time be given for habituation to this manner of directorate in national affairs, so that the common man comes to realise how it is feasible to get along without gentlemen-investors holding the discretion, the outcome may conceivably be very grave.
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